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UGAFODE Microfinance Limited

UGAFODE Microfinance Limited (UGAFODE MDI) is a growing microfinance institution that is focused on serving rural Ugandans operating small businesses outside of the formal economy. In Uganda, microfinance competition is strong in urban areas while rural regions remain relatively unserved with 1 and 5 Ugandans lacking access to lending or borrowing services. UGAFODE MDI hopes to leverage mobile phones and digital financial services in order to reach rural clients that currently lack financial support.

Key Indicators as of December 2015

Active Borrowers: 13,851

Average Loan: $567

Amount Loaned: $24,066,000

Active Savers: 39,132

Active Portfolio: $7,581,000

Saving Balance: $4,747,000

UGAFODE MDI was incorporated in 1994 as a non-governmental organization under the name of Uganda Agency for Development Limited in order to provide affordable financial services to clients across Uganda. In 2006, the organization made the decision to transform itself into a deposit taking institution (MDI), and in 2010 it incorporated as a licensed limited company. This transformation has facilitated UGAFODE MDI’s capacity for growth, allowing it to serve more customers across the nation.

UGAFODE MDI aspires to be a truly national organization with the capacity to one day provide access to all Ugandans, regardless of the region they call home.